US President Donald Trump said he has no intention of pardoning former FTX chief executive Sam Bankman-Fried.
Trump made the remarks in an interview with The New York Times when asked about clemency for high-profile federal inmates.
Bankman-Fried was convicted in 2023 of stealing billions of dollars from FTX customers in one of the largest financial fraud cases in US history.
He was sentenced in November 2024 to 25 years in prison after a New York jury found him guilty on seven criminal counts.
Prosecutors said he diverted customer funds to support Alameda Research while presenting FTX as a secure and compliant exchange.
The collapse of FTX erased billions in customer assets and triggered a global regulatory crackdown on the crypto industry.
Speculation about a possible pardon had circulated after Bankman-Fried gave media interviews and highlighted his political realignment.
Trump’s comments appear to shut down any immediate prospect of clemency for the former crypto executive.
The president has previously defended allies he claims were targeted by a “weaponised” justice system but did not extend that view to Bankman-Fried.